Month: January 2021

Categories
Startup

Tiding Over Times: 3 Things Indian Start-ups should be prepared for Post COVID World

startups

With nations imposing the complete lockdown to protect their citizens, the global pandemic of COVID 19 brought the wheel of economic growth to a halt. The businesses have been stalled, supply chains are disturbed and the global trade has been thwarted.

According to a Nasscom report that included 250 start-ups in India, ’90% of them are facing a decline in revenue. 70% of them are struggling with cash reserves, while 30-40% start-ups are in the process of shutting down either temporarily or permanently’.

However, for many, the difficult part of the pandemic is its uncertainty that has made many startup founders quite anxious. Here are 3 things that Indian start-up should do to succeed in post COVID world:

Look for New Opportunities

‘Success is not changing reality; it is the mentality behind the reality’. A crisis is nothing but an opportunity in disguise. Hence, keep your eyes open and look for new business opportunities. Research on current market trends and evaluate your product accordingly. This will help entrepreneurs to understand the changed customer behavior, and infuse innovation into their business strategy.

Create a Concrete Business Strategy

Accepting the reality and working according to it is the need of the hour. Hence, every startup owner should have straight conversations with your co-founders and investors will help you analyze the company`s health. Conserve funds, create a business plan, test every future assumption, and keep the dialogue open.

Indian Startups should Focus on building a remote team
Due to the pandemic, most of the companies have given their employees work-from-home. This will ensure the physical and mental well-being of every employee, and also reduces the chances of infection. However, it is important to stay connected with your employees to keep their morale up. Hence, be transparent about your plan and connect with them through daily or weekly calls.

The easy days ahead of you will remain easy, it is the challenging times that test your strength to the very core. You will be defined not just by how much you achieved, but by how you survived in the tough times.
The above-mentioned factors must be taken into consideration by startups after Covid to survive. If you have other business problems that you are stuck with, you can find a solution with our Problem Solving Courses. Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

Categories
HR & People Management

Indian Corporates look to hire more in 2021: Are you ready for the post-COVID job market?

The New Year brings with it a lot of opportunities along with positive growth. Adapting to the new normal of remote and office work, corporates are keeping an optimist outlook and looking to hire more people.

The COVID pandemic emerged as the main inflection point for the Indian job landscape. While the corporates have embraced the new work-from-home culture, the professionals are more focused now on online learning and digital skills.

The optimistic corporates have set up new recruitment plans for 2021 and planning to fill all vacant positions. Many big organizations have also increased their hiring for the roles in IT, cybersecurity, 5G, and virtual reality along with many other departments.

There was an increase in hiring activity by 14 percent on December 20, at 1,972 as compared to November 20, at 1,727, according to Naukri JobSpeak Index. Though the overall hiring showed a decline of 10 percent in December 2020, the trend shows a recovery signal in the current post-COVID job landscape.

According to the CEO of recruitment firm CIEL HR Services, “There is positive sentiment and a clear upward swing in hiring from October-December 2020 quarter. In fact, on an overall basis, the hiring in January-March 2021 quarter will be the same as this quarter last year”.
Firms, be it health-tech, fin-tech or ed-tech will begin their hiring activities in full swing, thanks to the digital push as a result of the pandemic.

According to TeamLease Employment Outlook Report, ‘January-March 2021, the hiring for entry, mid and senior positions has risen by 2%, 4%, and 2 %, respectively. An increase in the hiring for junior level positions by 7 percent indicates demand for talent with 2-5 years of work experience’.

Not just the technology sector, there has been a 45% increase in the insurance sector in December 2020 and other sectors have shown positive growth. There was 33% growth in the Auto & Ancillary sector with increased consumer demand during the year-end period. Other key sectors such as BFSI (18%), FMCG (21%), Pharma/Biotech (28%), and IT-software (11%) showed slow yet steady growth.
For thousands of people who have lost their jobs during this global pandemic, this is great news. However, the post-COVID workplace can be a bit challenging. It is essential for job-seekers to analyze the market conditions, demand, and upskill themselves to find a suitable job opportunity.

If you are one of those who are looking to begin a career in the current job market, here are few essential skills you must upgrade yourself with:

Digital Marketing Skills

As the world has completely gone digital, targeted marketing strategies, backed by effected data analysis are paramount. Organizations are looking to hire talent who knows digital marketing skills to manage online sales promotions and campaigns. Digital marketing knowledge includes skills like digital business analysis, SEO, and content marketing, among others.

Data Analysis

To gain a better perspective of the business market, data analysis is a useful skill that can help you to find a better career path. The predictive analysis helps to build an effective product development strategy and key decisions in business operations. Hence, Data Analyst is another key skill whose demand has increased in recent times.

Business Skill Training

In this constant-changing world, being the master of one skill will not help you succeed. Critical thinking, problem-solving ability, and a dynamic approach to the crisis are key elements for organizations. So, whether you are an entrepreneur or a wantrepreneur, taking a professional business skilling course can help you significantly in achieving your business goals.

The good news is that the intent of hiring is regaining its growth and many corporate firms are showing a healthy sign of recovery as they are planning to hire more people in the first quarter of the year 2021.
But the current job market is changed completely. Hence, upgrading yourself is the only key to find your dream job in the post-COVID workplace.

With our courses, you can learn the latest business skills from the industry experts, right from the comfort of your home. Not only they will demonstrate emerging business skills, they will also share success stories.

For more information, click https://www.badabusiness.com/psc?ref_code=ArticlesLeads

Categories
Startup

4 Business Ideas for College Students to Earn Money & Be Financially Independent

Business Ideas | Representative Image (Photo Credits: Pixabay)
Representative Image (Photo Credits: Pixabay)

The time spent in college gives a great opportunity for young adults to explore different aspects of the life and understand the how the world works. It prepares them to enter the real world, witness the struggles and succeed. Financial stability and independence is of the most crucial aspect of any adult. Earning money is a necessity. College provides enough time for young adults for learning and developing some entrepreneurial skills. So wouldn’t it be beneficial for college students to get some experience of entrepreneurship and economic activities? 3 Start-up Challenges Every Entrepreneur Must Overcome.

Another important advantage of working during the college days is that it adds to the resume, and provides the student an edge over others with some work experience. Besides, college students are always looking for some extra source of income to fill in the hole in their pockets and fulfill all their wants. Here are some business ideas for college students to earn some additional money –

Tuition Classes

One of easiest businesses for college students to start is tuition classes. One can give offline or online classes to his juniors. These days various apps and websites offer lucrative compensation to young adults for teaching students on their platform. It has a dual benefit, firstly it provides for a regular source of income and secondly it helps the college students to be in touch with the previous education and brush up important concepts. 3 Offbeat Career Paths: How Millennials are breaking the monotony of 9 to 5 jobs!

Freelance Content Writing

Another way for college students to earn money is by doing freelance content writing. As more and more businesses and other institutions are coming online, various agencies are looking for content creators and writers to write for the digital platforms. Mostly these agencies hire people on freelance basis and pay them per articles submitted. It requires a bit of background research that adds to the knowledge of the students. Also, it offers flexible working hours. Students can research, write and submit after their classes and earn money.

Vlogging

A highly popular business idea among college students is creating videos or vlogging. All one has to do is create a channel of any video sharing platform- YouTube , Vimeo etc and start putting up videos. Students can create videos on a number of issues, including comedy, entertainment, singing, education among others. It also helps the student to polish her talents and get the much required exposure.

Hobby Classes

Another idea to earn money at the same time harbour one’s talent is by offering hobby classes. Students can give classes in singing, drawing, painting, Yoga, swimming, calligraphy and any other talent they possess and want to promote.  It will keep the students close to their talents and passions even amid hectic college routine and will provide an opportunity to earn some additional pocket money while doing what you like.

College is a great time to explore and learn. Getting a source of earning and managing finances will be advantageous for the students to further get some real life experience and fulfill their needs. Being financially independent also boosts the confidence and the morale of the students.

 

 

Categories
Startup

Tech Startups in India Report Nearly 10% Growth in 2020 Despite COVID-19 Pandemic, Over 1,600 Tech Startups Added in a Year: Nasscom

Tech Startups in India (Photo Credits: Pexels)

New Delhi, January 8: Tech startups in India have witnessed a steady growth in 2020 with over 1,600 tech start-ups and a record number of 12 additional unicorns added in a single year. i.e. in 2020. This is the highest ever in a single calendar year. The tech start-up base in the country witnessed a steady growth at a scale of 8-10 per cent (year-on-year), Nasscom said. According to the annual report by Nasscom in partnership with a global management and strategy consulting firm Zinnov, nearly 14 percent of total investments in 2020 were in deep-tech start-ups, up from 11 per cent in 2019. The report said that further, 87 percent of all deep-tech investments were in AI/ML start-ups and seed-stage funding in 2020 recovered to more than 90 percent of 2019 levels.

Debjani Ghosh, President, Nasscom said with the continued addition of new start-ups, booming unicorns and increased adoption of deep-tech, the ecosystem shows an even more promising future. The report informed that despite a lower number of total start-up deals in 2020, seed-stage investments are recovering at a good pace as investor activity at lower ticket sizes has increased.  “Early and Late-stage investments are also recovering steadily. An increase in median deal size is further underscoring investor confidence and a willingness to take big bets,” the report added.

The Nasscom annual report further added saying that the sectors with COVID-19 tailwinds such as EdTech, BFSI, AgriTech, Gaming, etc., are witnessing a steady increase in first time funding, up from 29 percent in 2019 to 42 percent in 2020, garnering a 14 percent growth in absolute numbers. It added that the investor sentiment is also recovering with the second half of 2020 funding up by two times over the first half. “2021 will be the ‘Decade of Collaboration’ where entrepreneurs engaging more with not just their peers but also with the government, corporates, and the manufacturing ecosystem, will catapult India’s dreams of becoming a trillion-dollar economy,” said Pari Natarajan, CEO, Zinnov.

The report said 2021 promises a return to normalcy for the Indian tech start-up ecosystem. In terms of total unicorns, India is on track to have a 50-plus strong Unicorn club in 2021. Remote working continues to see significant adoption amongst tech start-ups, with around 30-35 percent offering remote roles and 15-20 percent companies having committed to remote work culture, as per NASSCOM tech start-up survey. “Deep-tech and new start-up hubs will continue to grow at 40-45 percent CAGR. While the investments in 2020 were significantly lower than in 2019, recovery in deal pace and investments is expected to return to 2019 levels, if not exceed in 2021,” the report noted.

Categories
MSME

CBIC Introduces ‘Liberalised MSME AEO Package’ for Development of Micro, Small & Medium Enterprises

MSME (Photo Credit: Wikimedia Commons)
MSMEs (Representational Image)

In order to promote the Micro, Small and Medium Enterprises (MSMEs), the Central Board of Indirect Taxes and Customs (CBIC) has introduced a new scheme called the ‘Liberalised MSME AEO Package’.  Under this, swift  and easier customs clearance of consignments will be provided to the enterprises, with the option of deferred payment duties .  It will also provide a relaxed compliance criteria on the condition that units have a valid certificate from their line-Ministry. Indian Businesses Aim To Tap Consumers Directly in 2021 via Digital Platforms, Says Report.

MSMEs which have filed minimum 10 Customs clearance documents in one year and which have a clean compliance record over two years are eligible to apply for the scheme. Under it, various documentary requirements have also been simplified. As per the scheme, the CBIC will decide on an application for grant of  Authorised Economic Operator (AEO) status to an MSME within only 15 days from electronic submission of all the required documents for AEO Tier T1. Digital Transformation: 4 Reasons SMEs need to go online!

Authorised Economic Operators have various advantages. An approved AEO is entitled to several benefits, including the facility of direct port delivery  of imported containers, direct port entry  of their export containers, high level of facilitation in customs clearance of their consignments thereby ensuring shorter cargo release time, exemption from bank guarantees, priority for refund or discount drawback, as well as a client relationship manager at the customs port as a single point of interaction.

Another important benefit for an approved AEO  is that their payment of Customs duty is deferred and need not to be paid before the clearance of the imported goods by authority.  Various other relaxations have been introduced under the scheme such as reduction in bank guarantee requirements.

Categories
Startup

3 Start-up Challenges Every Entrepreneur Must Overcome

Startup-challenges

From a handful of tech companies to thousands of new ventures, India`s start-up ecosystem has come a long way in the past decade.

According to the report published by NASSCOM, ‘India ranks 3rd globally, with more than 4,200 start-ups, creating more than 80,000 jobs’. The Indian start-up ecosystem remained stable in 2018 and 2019 in terms of funding and investor interest.

Though the global pandemic changed the entire game completely in 2020, by 2025, the number of startups is expected to cross 100K. More than 3.25 million job opportunities will be created in the market.

Although the idea of having a start-up business sounds appealing, entrepreneurs face many challenges in today`s world. However, overcoming these challenges can provide creative solutions to operate the business successfully.

Here is a list of startup challenges that every entrepreneur faces and must overcome in India:

Cash-Flow Management

Getting funds for your business is one of the major startup challenges that every entrepreneur faces. Finding the right amount and kind of investment in a fresh new sector is difficult in the early stages of a start-up.

Steady cash-flow is essential for the survival of the business, thus you always need to have extra funds to take care of the rainy days. Proper planning and financial plan are critical for the survival of the business. Hence, always ensure you have a well-prepared strategy ahead of time.

Marketing Strategy

One of the biggest startup challenges in India is the absence of a good marketing strategy. Many entrepreneurs think their business can thrive on word-of-mouth. However, the truth is far from a cry. If you want to expand your customer reach, you will have to find creative ways to do that.

Thanks to multiple social media platforms, there are ample opportunities to find the right audience even with minimum investment. Shifting your business from offline to online will improve your brand`s presence and increase your customer base.

Lack of Right Guidance

One wrong turn can take you away from your destination. Thus, the right guidance from the right person can do wonders for your business. The right mentor can prepare entrepreneurs for future challenges and can help them navigate through their experiences.

Though business networking can add up to the contact list, people who have experienced failures on the same journey would always add value.

These startup challenges are faced by almost every entrepreneur in the early stages of the business. But with the right guidance, you can take your business in the right direction.

You can learn to overcome these challenges with industry experts. Discover their Secret Mantra with the help of 600 business templates, checklists, and tools to run your business efficiently. Our Problem Solving Courses can help you overcome any business challenge. Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads to know more.

Categories
Business motivation

Digital Transformation: 4 Reasons SMEs need to go online!

msme digital transformation

Over the last couple of months, it has become quite evident that digital transformation is imperative for every business, especially SMEs. Digitalization has become a non-negotiable requirement without which companies will fail to run afloat.

Gartner published a report according to which 70% of the organizations during the challenging times in 2020, intend to leverage technology more effectively than ever to reduce TCO (total cost of ownership).

Though there is a basic reluctance, digital transformation for SMEs is a bus that they need to hop-on, more out of necessity than a desire. While big companies have already embraced the change, SMEs need to create a road map.

Although there are many more reasons to take your business online, check out the top 4:

Attract More Customers

Enhanced visibility means more customers! Going digital will increase your engagement with the target audience. Customer relationships will become better as you gain access to statistics and market insights through different tools. This will help you create better products and devise new marketing strategies.

  1. Smooth Operational Process

Technology can automate many core processes and increase efficiency. As a digitized SME, it will help you in better management of the available resources. It will also give you more control over logistics.

  1. Identify Shortfalls

Digital transformation of MSME can figure out the areas that require improvement. Digital tools can enable the smooth tracking of employee productivity, training schedules, and identify other shortfalls in the workforce.

  1. Risk Management

Data is the new oil, which means it is invaluable. Hence, going digital will help you protect the company`s sensitive information. Plenty of security software is available through which you can keep tabs on financial data and physical assets via advanced surveillance.

  1. Reduces Cost

Digital transformation for SMEs can also help reduce operational costs by automating core processes, thus reducing the need for more manpower.

As more and more industries are getting digitalized, SMEs must build an internal strategy to adopt the innovation as they contribute a major chunk to India`s GDP.  Taking your business online is not difficult if you have step-by-step instructions and the correct information.

To tackle all the challenges you are facing in digitalizing your business, you can learn and take the experience of 2000 years of the most successful billionaire businessmen. To find out more about the courses, click https://www.badabusiness.com/psc?ref_code=ArticlesLeads 

Categories
Technology

Indian Businesses Aim To Tap Consumers Directly in 2021 via Digital Platforms, Says Report

Bengaluru, January 7: As the economy limps back to normalcy, India’s focus will now be more on the digital side in terms of growing businesses. According to a new report, as the economy recovers from the lull caused by COVID-19 pandemic, businesses are preparing flexible models that operate in an online-offline mix. Moreover, the focus for digital platforms in India will be on selling directly to the consumers in 2021, the report said. “Small businesses in India are today evolving themselves as per the consumer and industry requirements”, it added.

According to the findings, entrepreneurs today understand the power of online presence and digital operations. “There has been a 3 times growth in unique businesses creating online stores,” the report mentioned. The payment gateway and ecommerce platform has on-boarded more than 2 lakh small businesses from tier II and tier III cities during the lockdown period. Akash Gehani COO & Co-founder, Instamojo, was quoted by IANS saying that small businesses are hungry for growth and much more resilient than we could’ve imagined. “Merchants have come to understand the diverse nature of consumers and that innovation is the key differentiator,” he said.

Instamojo had launched a report on the e-commerce outlook for 2021 which draws the experiences of more than a million small businesses across the country. Explaining how online presence has grown over the years, Gehani explained that small businesses owners are making necessary changes to their brands, to the way they operate, and also the way they deal with their customers online in order to survive in the growing e-commerce space. He said that more than 70 percent of these entrepreneurs had no prior online presence.

The report by IANS said that as a large number of businesses went online in 2020, they also recognised the importance of a wide social media presence. MojoVersity, Instamojo’s e-learning platform for entrepreneurs, saw a 9 times growth in enrolments and 11 times growth in the number of merchants getting digitally certified in 2020. The number of businesses updating their social media handles on their Instamojo online store went up an average of 30 percent (QoQ).

“As more entrepreneurs emerge from smaller towns and cities in India, accelerators and incubators are also expanding their services into markets to help nurture the upcoming businesses. Industry reports indicate that 40 percent of investors will come from Tier II and Tier III cities,” report added.

Categories
Motivational

Ratan Tata Impresses Netizens Again by Visiting Ailing Former Employee in Pune!

ratan tata meet ex employee
Yogesh Desai shared this picture

Social media platforms are generally in the news for all the wrong reasons. However, it has a brighter side too!
The internet went crazy and was hijacked by none other than Ratan Tata- the most celebrated name in the business world. However, the reason was heart-melting, something that is rare in today`s time!
One such incident is when Yogesh Desai shared a picture of Ratan Tata interacting with one of his former employees, who was not keeping well for the past two years. The picture is doing the rounds on the internet and people are all praise for the living legend.

While sharing his experience, he posted the story on LinkedIn, “Sir Ratan Tata (83) living legend, greatest businessman alive in India, visited the Friends Society in Pune to meet his ex-employee all-the-way from Mumbai who is ailing for last 2 years. This is how legends are made of. No media, no bouncers only commitment towards loyal employees. There is a lot to learn for all entrepreneurs and businessmen that money is not everything. All that matters is being a great human being. Hats off, Sir!! I bow my head in respect”.

Indian industrialist Ratan Tata is often known for his generosity. Known for his compassion and empathetic approach, he has once again garnered everyone’s attention. Since the picture was being shared online, it has been flooded with comments from people appreciating the kind gesture by Ratan Tata. The post has received more than 1.9 lakh reactions and over 4,600 comments.

Categories
HR & People Management

3 Offbeat Career Paths: How Millennials are breaking the monotony of 9 to 5 jobs!

off beat career

If millennials had their way, 9 to 5 jobs would have become a matter of the past. In the changed parameters, today, the new normal for millennials and Gen Z is to find offbeat career options. They are looking for career skills and opportunities that are in-demand and break the monotony of mundane 9 to 5 jobs.

According to a Deloitte Global Millennial Survey 2020, ‘despite the individual challenges and personal sources of anxiety that they are facing, the millennials and Gen Zs have remained focused on larger societal issues, both before and after the onset of the pandemic’.

The report also revealed that if anything, the global pandemic has reinforced their desire to do something for the community that will help to drive the positive changes around them and across the world. The young generation continues to push for a world in which business and governments echo that same commitment to society. A world where the interests of people are put ahead of profits and environmental sustainability is a priority.

Two trends are having an impact on their career choices. The first is choosing work & workplace flexibility over salary packages. Secondly, a job that has a greater purpose and can leave a positive impact on society.

Here are 3 offbeat career options to kill the monotonous 9 to 5 jobs:

  1. Jobs in Social Sector

Passion combined with professionalism, Social Sector is the new kid on the block! It has emerged as a professional space in the past few years and offers challenging, meaningful, and financially viable career choices.

From strategy planning, value-based fundraising, government advocacy, corporate social responsibility, behaviour change communication, collaborative partnerships, and ethical and pragmatic M&E etc can be opted for.

Contrary to the popular belief, the Social Sector is more than just ‘volunteering’ and offers an amazing off-beat career path that can make a difference in the real world.

  1. Political Campagin Manager

Another extremely dynamic, interesting, and critical field to work in is ‘Political Campaign Management’. A political campaign manager needs to put his best foot forward by using his analytical part of the brain. The working conditions can be quite stressful due to the nature of the job.

Being a campaign manager will require to work at the core and provide services like political consultation, fundraising, marketing, crisis management, and public relations.

  1. Radio Jockey

If you have unmatched communication skills that can engage the listeners for hours, then becoming a Radio Jockey is an excellent career path. As the name suggests, a Radio Jockey works at the radio stations. From presenting music programs to celebrity interviews, providing commentaries, and storytelling, a radio jockey is required to keep their listeners entertained. If you have a good voice and communication skills par excellence, you can work your charm in this industry too.

Apart from picking the career option we have mentioned above, you can also become an Independent Business Consultant. Not only you can earn lakhs, but you can also work remotely! You can also get free access to Lifetime Membership, worth Rs 1.25 lakh. To know how you can become an IBC, click here https://www.badabusiness.com/ibc?ref_code=ArticlesLeads